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Borsa İstanbul Stocks: New Restrictions Imposed

What ‍is teh Digital Services ⁣Act?

The Digital Services Act⁢ (DSA)‍ is a⁤ European​ Union law that establishes a extensive set ​of new obligations for online platforms to protect ​fundamental rights ⁢online, including freedom of expression, ⁣and⁣ to tackle illegal content, disinformation, and ⁤harmful products.

Enacted on November 23, 2022, the DSA aims to‍ create ‌a safer digital space‌ where illegal content can be quickly removed, users have more control over ⁣what they see online, and platforms are ‍held accountable for the⁤ content they ​host. It ​applies to ⁣a wide range‍ of online services, from⁣ social‌ media platforms and online marketplaces to search⁤ engines and hosting services. The DSA operates⁤ alongside the⁢ Digital Markets Act ‌(DMA), which focuses on ‍ensuring fair competition in digital markets.

For‍ example, very large online platforms (VLOPs) and very⁢ large‍ online⁢ search​ engines (VLOSEs) -‌ those ‍with over 45 million active ⁣users ⁣in‌ the EU ⁤-​ face ⁤the most stringent requirements, including conducting risk assessments and implementing mitigation measures to address systemic risks⁢ like the⁣ spread of illegal content and disinformation. The European Commission designated 17 VLOPs ⁣and VLOSEs in April 2023,‍ including Meta Platforms, Apple, and Google.⁤ European Commission Announcement

Who Does the ⁤DSA Affect?

the DSA impacts a broad spectrum of online ⁢intermediaries, categorized based on their role and size. These categories determine the level of obligation imposed.

The law distinguishes⁤ between “intermediary ⁣services” (mere conduits,⁤ caching, and DNS providers), “hosting services” ‍(cloud services, web hosting), and ‌”online platforms” (social networks, marketplaces). VLOPs and ‌VLOSEs, as mentioned above, are subject‍ to‌ the highest level of ​scrutiny. ⁢ Smaller platforms ⁢and businesses also have obligations, though they are less extensive. ⁣ The DSA ‍does *not* apply to ⁤email ‍services⁤ or professional dialog services.

As of February 17, 2024, ‌the DSA’s obligations began ‌to apply to all online platforms. European Commission Press Release. Meta was fined €5.8 million ⁤on January 26, 2024, for failing ‍to comply with DSA ⁤transparency obligations regarding online political advertising. European ‌Commission Fine Announcement

What ‍are the Key Obligations Under the DSA?

The DSA introduces several key obligations ⁢for online platforms, designed to increase transparency and accountability.

these⁢ include requirements to: remove illegal content promptly upon notification; provide users with clear and ​accessible terms and conditions; offer mechanisms‍ for​ users to⁣ report illegal content; implement measures to protect users from harmful content, such as hate speech and disinformation; and provide ‌transparency regarding online advertising and algorithmic systems. VLOPs and VLOSEs must also​ conduct annual ‍risk​ assessments⁣ and implement mitigation measures to address systemic risks. The DSA also introduces a new ‌cooperation mechanism between ⁢the european commission and national​ Digital Services Coordinators.

Specifically, platforms must now provide users with a clear clarification of how their recommendation algorithms‌ work. A ‌report ⁤published by the European ‌Commission in December 2023 detailed the first risk assessment⁣ reports submitted by VLOPs, revealing widespread ‍concerns‌ about the potential for algorithmic amplification of illegal and harmful content. European Commission Report on risk‍ Assessments

How is the DSA Enforced?

Enforcement of the DSA is a multi-layered process involving the European⁤ Commission and national​ Digital Services Coordinators.

Each EU member​ state has designated a⁢ Digital Services Coordinator responsible ⁣for supervising and enforcing the⁣ DSA within their⁤ jurisdiction. ⁤The⁣ European Commission has direct supervisory powers ​over VLOPs and vloses, while national ‌coordinators oversee other platforms. ‍ The DSA provides for importent fines for non-compliance,up to 6% of a company’s global⁤ annual ‍revenue.⁤ The Commission also has the power to impose interim measures, such as suspending operations, in cases of serious​ breaches.

On March 18, 2024, ⁤the European Commission opened formal investigations into TikTok and X (formerly Twitter) over ​potential breaches of‍ the DSA related to the protection⁢ of ‌minors and the spread of illegal content. European Commission Investigation ⁢Announcement These investigations could result in significant fines if violations are confirmed.

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